MMC Norilsk Nickel became a general partner of the business program at the VI St.-Petersburg International Legal Forum

MMCMining and Metallurgical CompanyGo to the glossary Norilsk Nickel became a general partner of the business program at the VI St.-Petersburg International Legal Forum held on May 18-20 in the General Staff Building (Palace Square, Saint Petersburg).

Each year, this largescale event brings together legal experts, including representatives of state authorities, businesses and scientific community from over 80 countries.

In his welcoming speech, Dmitry Medvedev, the Prime Minister of the Russian Federation, put an emphasis on a worldwide spread of the forum owing to its fruitful discussions among professionals.

A Norilsk Nickel representative, Alexander Zavtrik, Director of Legal Department, moderated a round table discussion about the development of legal regulation in the Arctic zone.

During the discussion, the company offered a range of priority measures that will promptly enhance the attractiveness of investment projects in the Arctic zone. In particular, the proposal envisaged setting tariff and tax incentive mechanisms for businesses, establishing customs concessions, as well as decreasing administrative burdens for investors and business entities.

A round table discussion also covered the world’s best practices and possible legal mechanisms, which could ensure timely and comprehensive development of the Russian Arctic.

Furthermore, in the course of the forum’s panel discussion, a representative from the Ministry of Economic Development of the Russian Federation made a report on the updated version of a draft law ‘On Development of the Arctic Zone of the Russian Federation’. Afterwards, the experts gave their assessment to systematic approach to social and economic development of Arctic territories through establishing the supporting zones, residents of which would be able to benefit from the concessional tax treatment and free trade regime.

Summarizing the results of the meeting and understanding the necessity to enhance attractiveness of Arctic territories, the experts agreed to submit their opinion to state authorized bodies and relevant public associations, including the State Commission for Arctic Development, the Federation Council’s Expert Council on the Arctic and Antarctic, and the Ministry of Economic Development, to elaborate and inscribe it into the law.